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LegalZoom Survey Reveals Many Adults Leave Loved Ones Unprotected by Not Making or Updating a Will
| Source: LegalZoom
LOS ANGELES, CA--(Marketwire - November 10, 2009) - A recent survey(1) conducted by Insight
Express for LegalZoom.com found that 70 percent of adults do not have a
will. The results suggest that most adults do not understand the real value
and scope that an up-to-date will can provide. Protecting your loved ones
from the hassles of probate, ensuring intended asset distribution, and,
perhaps most importantly, preventing
family conflicts, can all be achieved by having an up to date will.
Only 29 percent of the respondents reported that they have created a will.
Of those respondents, 38 percent say their will is out-of-date, meaning
that it has not been updated for five or more years. Often, several life
changing events can occur in this time, from the birth of a child or
grandchild to changes in marital, employment or homeownership status. These
changes should prompt the creation of an updated will to properly reflect a
person's circumstances and wishes.
Even though wills are created to record and enforce a person's wishes in
the light of unexpected events, nearly one-third of respondents (30
percent) plan on waiting at least 5 years before creating a will, while another third
(30 percent) do not have plans to create their will. Only 34 percent of
total respondents believe it is very important to create or update a will.
Nearly one-quarter, 24%, say they have never considered creating a will,
and 12% say they have put it off because they do not like thinking about
death.
"If you don't have an updated will when you die, your loved ones will face
challenges in dealing with your estate," said Brian Liu, co-founder and
chairman of LegalZoom.com. "It's important for any adult without a will to
complete one as soon as possible, and to then check it every two years. One
way to remember is that every odd year -- 2009, 2011, 2013 -- you should
check all your legal and financial
documents to make sure there isn't anything 'odd' that needs to be
changed."
For more information about making a
will or updating a will, please
visit www.LegalZoom.com.
About LegalZoom.com
Launched in 2001 by a founding team that includes famed attorney Robert
Shapiro, LegalZoom.com (www.legalzoom.com) has become the nation's leading
online legal service. LegalZoom merges innovative technology with
personalized service to deliver a simple, cost-effective way to take care
of common legal needs. Legal Zoom is not a law firm and can only provide
self-help services at your specific direction. LegalZoom service offerings
include: Wills, Living Wills, Incorporation, LLC Formation, Living Trusts, Powers of
Attorney, Divorce, Small Claims, Trademarks, Patents, Copyrights and more. LegalZoom.com does not provide
legal advice or counsel. LegalZoom is not an attorney and can only provide
self-help services at your specific direction.
(1) Insight Express survey of 502 respondents conducted on August 13, 2009.
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